Question: =+EX 2-14 Journalizing and posting objs. 2, 3 During the month, Racoon Co. received $319,750 in cash and paid out $269,900 in cash. a. Do

=+EX 2-14 Journalizing and posting objs. 2, 3 During the month, Racoon Co. received $319,750 in cash and paid out $269,900 in cash.

a. Do the data indicate that Racoon Co. earned $49,850 during the month? Explain.

b. If the balance of the cash account is $72,350 at the end of the month, what was the cash balance at the beginning of the month?

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